The Top 11 Largest USA Banks market capitalization increased $85.5 billion (+12%) for the quarter, as of September 28, 2012, compared to the last review at June 29, 2012. Benjamin Graham said, “In the short run, the market is a voting machine but in the long run it is a weighing machine.”
How has the market voted and weighed since? The answer has been a bullish sentiment for bank stocks assisted by ongoing life support from the Federal Reserve.
Wells Fargo (WFC) continues to lead all USA and worldwide banks with a market capitalization of $183 billion. JPMorgan Chase (JPM), despite the trading losses, continues #2 at $154 billion. Citigroup (C) ($95.94 billion) has nosed ahead of Bank of America (BAC) ($95.16 billion) to claim the #3 position.
U.S. Bancorp (USB) ($65 billion) and Goldman Sachs (GS) ($56 billion) continue to hold the #5 and #6 positions. PNC Financial Services (PNC) ($33.37 billion) has a slight lead on #8 Morgan Stanley (MS) ($33.11 billion), which has moved ahead of now #9 Capital One (COF) ($31.01 billion). BNY Mellon (BK) continues #10 at $27 billion and BBT (BBT) #11 at $23 billion.
The market valuation above is as of the market close on September 28, 2012 and provides a snapshot of value. All prior and expected financial performance and position has been priced into these publicly traded stocks, along with any other financial system, economic, and political uncertainties to-date.
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Big Banks Market Cap Increases: Wells Fargo Tops, JPMorgan Second
Published 09/30/2012, 03:22 AM
Updated 07/09/2023, 06:31 AM
Big Banks Market Cap Increases: Wells Fargo Tops, JPMorgan Second
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